One of my favorites with a newborn is a stretchy wrap. It is soft, snuggly, hands-free, and 2 shouldered. I had a hug-a-bub, but I have heard good things about the Moby which is wider (can do back carries and better for discrete breastfeeding).
I have really loved pouches for my ds. He was in a pouch at two days old and still loves them! Very easy for a newborn and they love to feel snug! <img alt="" class="inlineimg" src="http://www.mothering.com/discussions/images/smilies/smile.gif" style="border:0px solid;" title="smile">